Amtech Systems, Inc. ("Amtech") (NASDAQ: ASYS), a manufacturer
of thermal processing, wafer cleaning and chemical mechanical
polishing (CMP) capital equipment and related consumables used in
semiconductor, advanced mobility and renewable energy manufacturing
applications, today reported results for its fourth quarter and
fiscal year ended September 30, 2023.
Fourth Quarter Fiscal 2023 Financial and Operational
Results:
- Net revenue of $27.7 million
- GAAP operating loss of $11.7 million, inclusive of $5.2 million
intangible asset impairment charge
- Non-GAAP operating loss of $3.0 million (1)
- GAAP net loss of $12.0 million
- Non-GAAP net loss of $2.5 million (1)
- GAAP net loss per diluted share of $0.85
- Non-GAAP net loss per diluted share of $0.18 (1)
- Customer orders of $18.2 million
- Book to bill ratio of 0.7:1
Fiscal 2023 Financial and Operational Results:
- Net revenue of $113.3 million
- GAAP operating loss of $15.0 million, inclusive of $5.2 million
intangible asset impairment charge
- Non-GAAP operating loss of $0.2 million (1)
- GAAP net loss of $12.6 million
- Non-GAAP net loss of $0.3 million (1)
- GAAP net loss per diluted share of $0.89
- Non-GAAP net loss per diluted share of $0.02 (1)
- Customer orders of $103.9 million
- Book to bill ratio of 0.9:1
- Backlog of $51.8 million.
(1) See GAAP to non-GAAP reconciliation in schedules following
this release.
“We experienced continued softness in demand across several of
our end markets during the fourth quarter and have taken actions to
reduce fixed costs and expenses. These actions include a reduction
in force at each of our businesses, as well as a decision to exit
the legacy PR Hoffman polishing product lines and focus on their
consumable products going forward. The long-term opportunities for
Amtech’s products remain strong, and the actions we are taking will
allow us to significantly improve profitability as demand
recovers,” commented Mr. Bob Daigle, Chief Executive Officer of
Amtech.
GAAP and Non-GAAP Financial Results
(in millions, except per share
amounts)
Q4
Q3
Q4
12 Months
12 Months
FY 2023
FY 2023
FY 2022
2023
2022
Revenues, net
$
27.7
$
30.7
$
32.3
$
113.3
$
106.3
GAAP gross profit
$
2.8
$
11.0
$
12.6
$
35.6
$
39.5
GAAP gross margin
10.1
%
35.7
%
38.8
%
31.4
%
37.2
%
Non-GAAP gross profit (1)
$
8.9
$
11.0
$
12.6
$
41.7
$
39.5
Non-GAAP gross margin (1)
32.2
%
35.7
%
38.8
%
36.8
%
37.2
%
GAAP operating (loss) income
$
(11.7
)
$
(1.1
)
$
3.9
$
(15.0
)
$
17.3
GAAP operating margin
-42.2
%
-3.6
%
12.0
%
-13.2
%
16.3
%
Non-GAAP operating (loss) income (1)
$
(3.0
)
$
0.4
$
4.0
$
(0.2
)
$
5.4
Non-GAAP operating margin (1)
-10.9
%
1.2
%
12.5
%
-0.1
%
5.0
%
GAAP net (loss) income
$
(12.0
)
$
(1.0
)
$
4.2
$
(12.6
)
$
17.4
GAAP net (loss) income per diluted
share
$
(0.85
)
$
(0.07
)
$
0.30
$
(0.89
)
$
1.22
Non-GAAP net (loss) income (1)
$
(2.5
)
$
0.3
$
4.3
$
(0.3
)
$
5.4
Non-GAAP net (loss) income per diluted
share (1)
$
(0.18
)
$
0.02
$
0.31
$
(0.02
)
$
0.38
(1) See GAAP to non-GAAP reconciliation in schedules following
this release.
Net revenues decreased 10% sequentially and 14% from the fourth
quarter of fiscal 2022. The decrease from prior year is primarily
attributable to lower shipments from our Shanghai manufacturing
facility partially offset by an increase in shipments of our high
temperature belt furnaces and the addition of Entrepix in fiscal
2023. The sequential decrease is primarily due to a decrease in
equipment shipments across our business segments. We are
experiencing lower bookings in multiple areas of our business due
to the softness in the semiconductor market.
Gross margin decreased sequentially and compared to the prior
year due primarily to one-time charges and lower equipment volumes
in our Material & Substrate segment. These charges include an
intangible asset impairment of $4.6 million and an inventory write
down of $1.5 million for our polishing machine products.
During the fourth quarter, we recorded $5.2 million of
intangible asset impairment charges in our Material and Substrate
segment, of which $4.6 million is recorded within gross profit and
the remainder is recorded within operating expenses. This charge
was due primarily to the prolonged downturn and general economic
conditions in the semiconductor market and customer delays in the
adoption of next-gen polishing tools, both of which reduced our
projections for the segment.
Selling, General & Administrative (“SG&A”) expenses
increased $0.8 million on a sequential basis and increased $3.8
million compared to the prior year period. The sequential increase
is due primarily to $0.6 million of additional equity compensation
expense primarily related to the change in leadership of the
Company. Compared to the prior year, the increase is due primarily
to added Entrepix SG&A of $1.8 million, as well as increased
equity compensation, consulting, audit, and ERP project
expenses.
Research, Development and Engineering expenses increased $0.8
million sequentially and increased $1.2 million compared to the
same prior year period, with $0.5 million associated with customer
delays in the adoption of next-gen polishing tools at PR
Hoffman.
GAAP operating loss was $11.7 million, compared to GAAP
operating loss of $1.1 million in the third quarter of fiscal 2023
and GAAP operating income of $3.9 million in the same prior year
period.
Non-GAAP operating loss was $3.0 million, compared to non-GAAP
operating income of $0.4 million in the third quarter of fiscal
2023 and non-GAAP operating income of $4.0 million in the same
prior year period.
GAAP net loss for the fourth quarter of fiscal 2023 was $12.0
million, or 85 cents per share. This compares to GAAP net loss of
$1.0 million, or 7 cents per share, for the preceding quarter and
GAAP net income of $4.2 million, or 30 cents per share, for the
fourth quarter of fiscal 2022.
Non-GAAP net loss for the fourth quarter of fiscal 2023 was $2.5
million, or 18 cents per share. This compares to non-GAAP net
income of $0.3 million, or 2 cents per share, for the preceding
quarter and non-GAAP net income of $4.3 million, or 31 cents per
share, for the fourth quarter of fiscal 2022.
At September 30, 2023, we were not in compliance with the Debt
to EBITDA and Fixed Charge Coverage Ratio financial covenants under
our Loan Agreement. On December 5, 2023, we entered into a
Forbearance & Modification Agreement (the “Forbearance
Agreement”) with UMB Bank related to such non-compliance, pursuant
to which UMB Bank agreed to forbear from exercising its rights and
remedies available to it as a result of such defaults. We will be
operating under the terms of this Forbearance Agreement through
January 17, 2025 (the “Forbearance Period”).
In discussing financial results for the three months and year
ended September 30, 2023 and 2022, and the three months ended June
30, 2023, in this press release, the Company refers to certain
financial measures that are adjusted from the financial results
prepared in accordance with United States generally accepted
accounting principles ("GAAP"). All non-GAAP amounts exclude
certain adjustments for stock compensation expense, severance
expense, expenses related to the discontinued product line,
intangible asset impairment, gain on sale-leaseback of our
Massachusetts facility, amortization of acquired intangible assets,
acquisition expenses, and income tax benefit related to our
acquisition of Entrepix, Inc. A tabular reconciliation of financial
measures prepared in accordance with GAAP to the non-GAAP financial
measures is included at the end of this press release.
Outlook
Operating results can be significantly impacted, positively or
negatively, by the timing of orders, system shipments, logistical
challenges, and the financial results of semiconductor
manufacturers. Additionally, the semiconductor equipment industries
can be cyclical and inherently impacted by changes in market
demand. Actual results may differ materially in the weeks and
months ahead.
For the first fiscal quarter ending December 31, 2023, we expect
revenues in the range of $21 - $24 million with EBITDA nominally
negative. Although the near-term outlook for revenue and earnings
is challenging, we remain confident that the long-term outlook is
strong for both our consumables and equipment serving advanced
mobility and advanced packaging applications. We took actions
during the first quarter of fiscal 2024, which will reduce Amtech's
structural costs by approximately $4 million annually and better
align product pricing with value. These steps will significantly
improve results and enhance profitability through market
cycles.
A portion of Amtech's results is denominated in Renminbis, a
Chinese currency. The outlook provided in this press release is
based on an assumed exchange rate between the United States Dollar
and the Renminbi. Changes in the value of the Renminbi in relation
to the United States Dollar could cause actual results to differ
from expectations.
About Amtech Systems, Inc.
Amtech Systems, Inc. is a leading, global manufacturer of
thermal processing, wafer cleaning and chemical mechanical
polishing (CMP) capital equipment and related consumables used in
semiconductor, advanced mobility and renewable energy manufacturing
applications. We sell process equipment and services used in the
fabrication of semiconductor devices, such as silicon carbide
(SiC), silicon power, electronic assemblies and modules to
semiconductor device and module manufacturers worldwide,
particularly in Asia, North America and Europe. Our strategic focus
is on growth opportunities which leverage our strengths in thermal
and substrate processing. Amtech's products are recognized under
the leading brand names BTU International, Entrepix, Inc., PR
Hoffman™ and Intersurface Dynamics, Inc.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this press release is
forward-looking in nature. All statements in this press release, or
made by management of Amtech Systems, Inc. and its subsidiaries
("Amtech"), other than statements of historical fact, are hereby
identified as "forward-looking statements" (as such term is defined
in Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and
the Private Securities Litigation Reform Act of 1995). The
forward-looking statements in this press release relate only to
events or information as of the date on which the statements are
made in this press release. Examples of forward-looking statements
include statements regarding Amtech's future financial results,
operating results, business strategies, projected costs, products
under development, competitive positions, plans and objectives of
Amtech and its management for future operations, efforts to improve
operational efficiencies and effectiveness and profitably grow our
revenue, and enhancements to our technologies and expansion of our
product portfolio. In some cases, forward-looking statements can be
identified by terminology such as "may," "plan," "anticipate,"
"seek," "will," "expect," "intend," "estimate," "believe,"
"continue," "predict," "potential," "project," "should," "would,"
"could", "likely," "future," "target," "forecast," "goal,"
"observe," and "strategy" or the negative of these terms or other
comparable terminology used in this press release or by our
management, which are intended to identify such forward-looking
statements. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that
are difficult to predict. The Form 10-K that Amtech filed with the
Securities and Exchange Commission (the "SEC") for the year-ended
September 30, 2022, listed various important factors that could
affect the Company's future operating results and financial
condition and could cause actual results to differ materially from
historical results and expectations based on forward-looking
statements made in this document or elsewhere by Amtech or on its
behalf. These factors can be found under the heading "Risk Factors"
in the Form 10-K and in our subsequently filed Quarterly Reports on
Form 10-Qs, and investors should refer to them. Because it is not
possible to predict or identify all such factors, any such list
cannot be considered a complete set of all potential risks or
uncertainties. Except as required by law, we undertake no
obligation to publicly update forward-looking statements, whether
as a result of new information, future events, or otherwise.
AMTECH SYSTEMS, INC.
(NASDAQ: ASYS)
(Unaudited)
Summary Financial Information
(in thousands, except
percentages)
Three Months Ended
Years Ended September
30,
September 30, 2023
June 30, 2023
September 30, 2022
2023
2022
Amtech Systems, Inc.
Revenue, net
$
27,707
$
30,740
$
32,315
$
113,315
$
106,298
Gross profit
$
2,794
$
10,985
$
12,553
$
35,552
$
39,511
Gross margin
10
%
36
%
39
%
31
%
37
%
GAAP operating (loss) income
$
(11,690
)
$
(1,119
)
$
3,889
$
(14,970
)
$
17,286
Non-GAAP operating (loss) income
$
(3,020
)
$
368
$
4,047
$
(160
)
$
5,364
New orders
$
18,185
$
26,217
$
20,365
$
103,897
$
113,953
Backlog
$
51,794
$
61,315
$
50,780
$
51,794
$
50,780
Semiconductor Segment
Revenue, net
$
18,820
$
19,841
$
26,498
$
77,595
$
87,982
Gross profit
$
7,374
$
6,707
$
9,373
$
29,184
$
30,880
Gross margin
39
%
34
%
35
%
38
%
35
%
GAAP operating income
$
2,046
$
1,042
$
4,425
$
6,907
$
20,672
Non-GAAP operating income
$
2,046
$
1,042
$
4,425
$
6,907
$
8,207
New orders
$
10,834
$
18,293
$
16,165
$
74,817
$
94,268
Backlog
$
45,233
$
53,219
$
48,011
$
45,233
$
48,011
Material and Substrate Segment
Revenue, net
$
8,887
$
10,899
$
5,817
$
35,720
$
18,316
Gross (loss) profit
$
(4,580
)
$
4,278
$
3,180
$
6,368
$
8,631
Gross margin
-52
%
39
%
55
%
18
%
47
%
GAAP operating (loss) income
$
(10,176
)
$
481
$
1,737
$
(8,765
)
$
3,728
Non-GAAP operating (loss) income
$
(2,455
)
$
1,506
$
1,737
$
1,622
$
3,728
New orders
$
7,351
$
7,924
$
4,200
$
29,080
$
19,685
Backlog
$
6,561
$
8,096
$
2,769
$
6,561
$
2,769
AMTECH SYSTEMS, INC.
(NASDAQ: ASYS)
(Unaudited)
Consolidated Statements of
Operations
(in thousands, except per share
data)
Three Months Ended September
30,
Years Ended September
30,
2023
2022
2023
2022
Revenue, net
$
27,707
$
32,315
$
113,315
$
106,298
Cost of sales
20,268
19,762
73,118
66,787
Intangible asset impairment
4,645
—
4,645
—
Gross profit
2,794
12,553
35,552
39,511
Selling, general and administrative
11,078
7,292
42,002
28,300
Research, development and engineering
2,597
1,372
7,311
6,390
Gain on sale of fixed assets
—
—
—
(12,465
)
Intangible asset impairment
544
—
544
—
Severance expense
265
—
665
—
Operating (loss) income
(11,690
)
3,889
(14,970
)
17,286
Interest income
10
161
366
210
Interest expense
(178
)
2
(520
)
(164
)
Foreign currency (loss) gain
(30
)
710
(89
)
1,066
Other
12
(1
)
31
387
(Loss) income before income taxes
(11,876
)
4,761
(15,182
)
18,785
Income tax provision (benefit)
139
578
(2,600
)
1,418
Net (loss) income
$
(12,015
)
$
4,183
$
(12,582
)
$
17,367
(Loss) Income Per Share:
Net (loss) income per basic share
$
(0.85
)
$
0.30
$
(0.89
)
$
1.24
Net (loss) income per diluted share
$
(0.85
)
$
0.30
$
(0.89
)
$
1.22
Weighted average shares
outstanding:
Basic
14,166
13,933
14,065
14,014
Diluted
14,166
14,080
14,065
14,184
AMTECH SYSTEMS, INC.
(NASDAQ: ASYS)
(Unaudited)
Consolidated Balance Sheets
(in thousands, except share
data)
September 30, 2023
September 30, 2022
Current Assets
Cash and cash equivalents
$
13,133
$
46,874
Accounts receivable - Net
26,474
25,013
Inventories
34,845
25,488
Income taxes receivable
632
—
Other current assets
6,105
5,561
Total current assets
81,189
102,936
Property, Plant and Equipment - Net
9,695
6,552
Right-of-Use Assets - Net
11,217
11,258
Intangible Assets - Net
6,114
758
Goodwill
27,631
11,168
Deferred Income Taxes - Net
101
79
Other Assets
1,074
783
Total Assets
$
137,021
$
133,534
Liabilities and Shareholders’
Equity
Current Liabilities
Accounts payable
$
10,815
$
7,301
Accrued compensation and related taxes
3,481
4,109
Accrued warranty expense
965
871
Other accrued liabilities
1,551
900
Current portion of finance lease
liabilities and long-term debt
2,265
107
Current portion of long-term operating
lease liabilities
2,623
2,101
Contract liabilities
8,018
7,231
Income taxes payable
—
6
Total current liabilities
29,718
22,626
Finance Lease Liabilities and Long-Term
Debt
8,422
220
Long-Term Operating Lease Liabilities
8,894
9,395
Income Taxes Payable
1,575
2,849
Other Long-Term Liabilities
47
76
Total Liabilities
48,656
35,166
Commitments and Contingencies
Shareholders’ Equity
Preferred stock; 100,000,000 shares
authorized; none issued
—
—
Common stock; $0.01 par value; 100,000,000
shares authorized; shares issued and outstanding: 14,185,977 and
13,994,154 in 2023 and 2022, respectively
142
140
Additional paid-in capital
126,963
124,458
Accumulated other comprehensive loss
(1,695
)
(1,767
)
Retained deficit
(37,045
)
(24,463
)
Total Shareholders’ Equity
88,365
98,368
Total Liabilities and Shareholders’
Equity
$
137,021
$
133,534
AMTECH SYSTEMS, INC.
(NASDAQ: ASYS)
(Unaudited)
Consolidated Statements of Cash Flows
(in thousands)
Years Ended September
30,
2023
2022
Operating Activities
Net (loss) income
$
(12,582
)
$
17,367
Adjustments to reconcile net (loss) income
to net cash used in operating activities:
Depreciation and amortization
5,012
1,729
Write-down of inventory
2,620
102
Non-cash intangible asset impairment
5,189
—
Provision for allowance for doubtful
accounts
14
(32
)
Deferred income taxes
(2,513
)
592
Non-cash stock-based compensation
expense
1,272
543
Gain on sale of fixed assets
—
(12,465
)
Other, net
196
—
Changes in operating assets and
liabilities:
Accounts receivable
4,410
(2,479
)
Inventories
(6,294
)
(3,684
)
Contract and other assets
(529
)
(2,203
)
Accounts payable
1,459
(1,080
)
Accrued income taxes
(2,897
)
623
Accrued and other liabilities
(1,895
)
584
Contract liabilities
(1,163
)
5,607
Net cash (used in) provided by operating
activities
(7,701
)
5,204
Investing Activities
Purchases of property, plant and
equipment
(2,898
)
(1,135
)
Acquisitions, net of cash and cash
equivalents acquired
(34,938
)
—
Proceeds from sale of property, plant and
equipment
6
19,908
Net cash (used in) provided by investing
activities
(37,830
)
18,773
Financing Activities
Proceeds from the exercise of stock
options
1,235
720
Repurchase of common stock
—
(4,115
)
Payments on long-term debt
(1,497
)
(4,872
)
Borrowings on long-term debt
12,000
—
Net cash provided by (used in) financing
activities
11,738
(8,267
)
Effect of Exchange Rate Changes on
Cash, Cash Equivalents and Restricted Cash
52
(1,672
)
Net (Decrease) Increase in Cash, Cash
Equivalents and Restricted Cash
(33,741
)
14,038
Cash, Cash Equivalents and Restricted
Cash, Beginning of Year
46,874
32,836
Cash, Cash Equivalents and Restricted
Cash, End of Year
$
13,133
$
46,874
AMTECH SYSTEMS, INC.
(NASDAQ: ASYS)
(Unaudited)
Reconciliation of GAAP to Non-GAAP
Financial Measures
(in thousands, except per share
data)
Three Months Ended
Years Ended September
30,
September 30, 2023
June 30, 2023
September 30, 2022
2023
2022
Amtech Systems, Inc. Operating (Loss)
Income:
GAAP operating (loss) income
$
(11,690
)
$
(1,119
)
$
3,889
$
(14,970
)
$
17,286
Acquisition expenses
-
272
-
3,242
-
Write-down of inventory related to
polishing equipment
1,487
-
-
1,487
-
Amortization of acquired intangible
assets
985
1,025
-
2,955
-
Stock compensation expense
744
190
158
1,272
543
Gain on sale of fixed assets
-
-
-
-
(12,465
)
Intangible asset impairment
5,189
-
-
5,189
-
Severance expense
265
-
-
665
-
Non-GAAP operating (loss) income
$
(3,020
)
$
368
$
4,047
$
(160
)
$
5,364
GAAP operating margin
(42.2
)%
(3.6
)%
12.0
%
(13.2
)%
16.3
%
Non-GAAP operating margin
(10.9
)%
1.2
%
12.5
%
(0.1
)%
5.0
%
Consolidated Net (Loss) Income:
GAAP net (loss) income
$
(12,015
)
$
(1,027
)
$
4,183
$
(12,582
)
$
17,367
Acquisition expenses
-
272
-
3,242
-
Write-down of inventory related to
polishing equipment
1,487
-
-
1,487
-
Amortization of acquired intangible
assets
985
1,025
-
2,955
-
Stock compensation expense
744
190
158
1,272
543
Gain on sale of fixed assets
-
-
-
-
(12,465
)
Intangible asset impairment
5,189
-
-
5,189
-
Severance expense
265
-
-
665
-
Income tax benefit related to
acquisition
856
(182
)
-
(2,490
)
-
Non-GAAP net (loss) income
$
(2,489
)
$
278
$
4,341
$
(262
)
$
5,445
Net (Loss) Income per Diluted
Share:
GAAP net (loss) income per diluted
share
$
(0.85
)
$
(0.07
)
$
0.30
$
(0.89
)
$
1.22
Acquisition expenses
-
0.02
-
0.23
-
Write-down of inventory related to
polishing equipment
0.10
-
-
0.10
-
Amortization of acquired intangible
assets
0.07
0.07
-
0.21
-
Stock compensation expense
0.05
0.01
0.01
0.09
0.04
Gain on sale of fixed assets
-
-
-
-
(0.88
)
Intangible asset impairment
0.37
-
-
0.37
-
Severance expense
0.02
-
-
0.05
-
Income tax benefit related to
acquisition
0.06
(0.01
)
-
(0.18
)
-
Non-GAAP net (loss) income per diluted
share
$
(0.18
)
$
0.02
$
0.31
$
(0.02
)
$
0.38
Semiconductor Segment Operating Income
(Loss):
GAAP operating income
$
2,046
$
1,042
$
4,425
$
6,907
$
20,672
Gain on sale of fixed assets
-
-
-
-
(12,465
)
Non-GAAP operating income (loss)
$
2,046
$
1,042
$
4,425
$
6,907
$
8,207
Material and Substrate Segment
Operating (Loss) Income:
GAAP operating (loss) income
$
(10,176
)
$
481
$
1,737
$
(8,765
)
$
3,728
Acquisition expenses
-
-
-
696
-
Write-down of inventory related to
polishing equipment
1,487
-
-
1,487
-
Amortization of acquired intangible
assets
985
1,025
-
2,955
-
Intangible asset impairment
5,189
-
-
5,189
-
Severance expense
60
-
-
60
-
Non-GAAP operating (loss) income
$
(2,455
)
$
1,506
$
1,737
$
1,622
$
3,728
AMTECH SYSTEMS, INC.
(NASDAQ: ASYS)
(Unaudited)
Reconciliation of GAAP to Non-GAAP
Financial Measures
(in thousands, except per share
data)
Three Months Ended
Years Ended September
30,
September 30, 2023
June 30, 2023
September 30, 2022
2023
2022
Amtech Systems, Inc. Gross
Profit:
GAAP gross profit
$
2,794
$
10,985
$
12,553
$
35,552
$
39,511
Write-down of inventory related to
polishing equipment
1,487
-
-
1,487
-
Intangible asset impairment
4,645
-
-
4,645
-
Non-GAAP gross profit
$
8,926
$
10,985
$
12,553
$
41,684
$
39,511
GAAP gross margin
10
%
36
%
39
%
31
%
37
%
Non-GAAP gross margin
32
%
36
%
39
%
37
%
37
%
Semiconductor Segment Gross
Profit:
GAAP gross profit
$
7,374
$
6,707
$
9,373
$
29,184
$
30,880
Write-down of inventory related to
polishing equipment
-
-
-
-
-
Intangible asset impairment
-
-
-
-
-
Non-GAAP gross profit
$
7,374
$
6,707
$
9,373
$
29,184
$
30,880
GAAP gross margin
39
%
34
%
35
%
38
%
35
%
Non-GAAP gross margin
39
%
34
%
35
%
38
%
35
%
Material and Substrate Segment Gross
(Loss) Profit:
GAAP gross (loss) profit
$
(4,580
)
$
4,278
$
3,180
$
6,368
$
8,631
Write-down of inventory related to
polishing equipment
1,487
-
-
1,487
-
Intangible asset impairment
4,645
-
-
4,645
-
Non-GAAP gross profit
$
1,552
$
4,278
$
3,180
$
12,500
$
8,631
GAAP gross margin
(52
)%
39
%
55
%
18
%
47
%
Non-GAAP gross margin
17
%
39
%
55
%
35
%
47
%
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231214085333/en/
Amtech Systems, Inc. Lisa D. Gibbs Chief Financial Officer (480)
360-3756 irelations@amtechsystems.com
Sapphire Investor Relations, LLC Erica Mannion and Mike Funari
(617) 542-6180 irelations@amtechsystems.com
Grafico Azioni Amtech Systems (NASDAQ:ASYS)
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Grafico Azioni Amtech Systems (NASDAQ:ASYS)
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